Posted on 06/06/2020 7:10:57 PM PDT by SeekAndFind
Fearful Americans and overconfident Chinese both believe that China is an unstoppable economic juggernaut “rising” across the Pacific—and poised to displace the U.S. The Chinese government’s willingness to court international condemnation over its violent subjugation of Hong Kong and the Trump administration’s efforts to limit Chinese access to U.S. technology and research universities can both be understood as consequences of this shared belief.
Anything is possible. Yet the likelier outcome is that China’s relative economic power will soon hit its zenith before entering a sustained period of decline. American officials should be more sanguine about their global position, while their Chinese counterparts should be more circumspect and less presumptuous about the trajectory of world history.
Consider Khrushchev. “Whether you like it or not,” he famously told a delegation of western diplomats in November 1956, “history is on our side. We will bury you!” While analysts and historians have debated exactly what the Soviet leader meant, the official explanation was that he was expressing his confidence in the superiority of the Soviet system and the eventual collapse of the capitalist West.
At first, Khrushchev’s confidence seemed reasonable. Between the end of World War II and the mid-1970s, output per person in the Soviet Union rose from 30% of the U.S. level to 60%, with most of that growth occurring in the two decades after his speech. Unfortunately for the Soviets, that long boom had been a mirage. Rising energy prices and a debt binge had temporarily inflated Soviet purchasing power.
Once those tailwinds reversed over the course of the 1980s, the Soviet economy steadily lost ground compared with the U.S. before it eventually imploded. According to the latest estimates from the Maddison Project at the University of Groningen, average incomes in the former Soviet Union are now only 34% of U.S
(Excerpt) Read more at barrons.com ...
It’s why the median age in Cambodia is something like 32 and you don’t see that many old people.
Yet...”a debt binge had temporarily inflated Soviet purchasing power. Once those tailwinds reversed over the course of the 1980s, the Soviet economy steadily lost ground compared with the U.S. before it eventually imploded.”
It’s a good thing there’s no debt binge in the United States propping things up. Otherwise we might implode, too.
Honestly so does the United States. Not in numbers or in gender, but in ideology and common goals.
It’s an interesting article, but it ignores the cause of the failures of communist governments. Communist governments have always been corrupt. The reason is simple. In communist governments, political power is given only to people who are loyal to the regime. It is not given to success, it is given to pander. The most corrupt rise to the top, and simply do not have the background and skills to make successful business decisions.
As with any business with corrupt leaders, the entire organization becomes corrupt as well and cannot compete with organizations driven by success. In a system driven by free enterprise, bad business decisions lead to the failure of the business. In a communist system, bad business decisions are irrelevant, and the businesses irreparably suffer from languish and strain.
“The U.S. is on the verge of collapse.”
During the many dark days of the Revolutionary War people probably felt the same. Then, shortly after, the British occupied and burned the DC. The Civil War and the accompanying riots and sabotage might have generated some feeling that collapse was immanent. My mother described the privations of the 1930’s when one could be forgiven for thinking collapse was around the corner. Then there were the riots and unrest of the ‘60’s.
I would say if we survived Carter, Clinton and Obama to arrive at Trump, things are looking up, not down.
Its over. China got old before they got rich. They are in an economic decline that cannot be reversed. Donald Trump is hurrying things along by decoupling our economy from theirs. He is doing to China what Reagan did to Russia. There is only one super power in the world and its the USA.
Are you kidding?
China makes everything we buy in America.
Go into any Walmart. Anywhere. Or any store, really.
EVERYTHING is made in China.
(I know, not literally everything, but a whole huge amount, of just about everything)
Guess what isn’t invented in China? Hardly anything. They just steal others intellectual property. While you were sleeping these last 3.5 years Trump was busy decoupling our economy from China and manufacturing is fleeing China for Viet Nam , India and back to the good old US. China is hemmoraging.
RE: I would say if we survived Carter, Clinton and Obama to arrive at Trump, things are looking up, not down.
Ahhh, but will we survive a Joe Biden presidency with Communists and Jihadists like AOC, Ilhan Omar, Rashida Tlaib and Bernie Sanders in his cabinet?
“Ahhh, but will we survive a Joe Biden presidency with Communists and Jihadists like AOC, Ilhan Omar, Rashida Tlaib and Bernie Sanders in his cabinet?”
If that were to happen, it would devastate the economy. Even then, I am optimistic because Obama gave us Trump, just as Carter gave us Reagan. The pendulum swings. As long as the pendulum mechanism isn’t damaged, it will continue swinging.
We have gone through about 40 years of Communism-lite. Now, they have turned up the heat on the frog to the point I think it will jump. Not only will it clear the pot, but the stove and, possibly, it will hop out the front door. The elderly, senile leadership of the Democratic party is despised by the Left-left. The Democrats are fighting like the Trotskyists and the Bolsheviks. All Trump has to do to win is stay out of it. (Never interrupt your enemy when he is making a mistake. *Napoleon*)
Are you sure?
U.S.-China Trade Facts
Exports were $179.3 billion; imports were $557.9 billion. The U.S. goods and services trade deficit with China was $378.6 billion in 2018. China is currently our largest goods trading partner with $659.8 billion in total (two way) goods trade during 2018.
Exports: 179.3 billion (US to China)
Imports: 557.9 billion (China to US)
Not progress.
Nonsensical headline. Which is it?
Yes I’m sure. Stop worrying about China and start worrying about the deep state, ANTIFA and BLM.
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